What is VAT?

Also known as: Value added tax

A tax levied on the value added when goods and services are sold. The seller adds it to the price, collects it and pays it to the budget. Ultimately, the consumer bears this tax.

More terms: Taxes

Corporate profit tax Corporate profit tax expense Deferral or instalment payment of tax Deferred liability for taxes and levies Desk tax audit Direct tax Due diligence Electronic digital signature

← All terms